FIASCO: Blood in the Water on Wall Street: Blood in the Water on Wall Street
| Author | : | |
| Rating | : | 4.81 (520 Votes) |
| Asin | : | B00E94I28K |
| Format Type | : | |
| Number of Pages | : | 352 Pages |
| Publish Date | : | 2016-07-13 |
| Language | : | English |
DESCRIPTION:
Will leave you cynical and bitter Good exposure of the total amorality and ruthless exploitation of their customers as practised in "investment banks". A good antidote to anyone thinking of having business dealings with these monsters.A very easy and entertaining read but leaves you feeling soiled at the end. Just from being exposed to the way these people think: "I just ripped my customer's face off". (ie ripped someone off and preferably destroyed them).Recommended by Charlie Munger by . Lest we forget the human frailties One again, the author exposes the basic human wiring of dreams, hope, fear, vulnerabilities, traits, animal spirit and more.our eternal chase of wants beyond need, all played with increasing deferral to conscious; our failure to listen to, architect and enjoy a life of serene joy assisted by the wisdom of conscious and unsullied soul. It might help to realise that, so long as we are alive, we will have to deal with our memoriesdespite the respite of death . Lackluster but has some good info Got boring about half way through - did not finish. Talks about activities on a derivatives/structured products desk. Michael Lewis and Scott Skyrm write better. Won't discount my rating on it too much because there is a real lack of good books on this kind of subject
The game of Russian roulette is alive and well and living on Wall Street, where it's known as the derivatives market. His book will leave you wiser, too--and probably very worried. In fascinating, frightening detail Partnoy describes several of Morgan Stanley's slick deals that, in his eyes, are just this side of outright fraud. . More than just dishonest, the bait-and-switch tactics Wall Street traders employ to rig the markets are downright dangerous, since the massive debt these deals conceal will inevitably come back
The book tracks Partnoy’s success as a young Morgan Stanley employee who quickly becomes steeped in a culture that treats client as targets to be “blown up” or have their faces “ripped off.” A decade later FIASCO remains one of the most damning and prescient pictures of the speculative frenzies that grip Wall Street and the victims they can leave in their wake. A new epilogue written for this edition brings Partnoy’s story—as well as the story of derivatives—up to the present.. “Applies an intelligent, clinical eye to an excruciatingly complex corner of the financial world.” —New York TimesA classic of its kind, Frank Partnoy’s best-selling FIASCO takes readers inside the rollicking world of derivatives on Wall Street during the mid-1990s. In Partnoy’s case they include well-publicized losses at Orange County, Barings, and Procter & Gamble, among others